Quote:
Originally Posted by The ATX
Yeah, I read that way wrong. The family that owns those buildings are like WCC. Just HOLD, don't develop.
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They are even worse than that. These three properties have a long, contentious history but the short of it is that they are intentionally letting these buildings rot for three reasons; as a general land "hold" play, to reduce their tax liability, and so they can eventually curb historic/preservation codes and demo these structures by claiming there is nothing worth saving. The City has been on to this for a while but there is only so much they can do here.
Currently, the plan is to compromise by restoring the three facades, demoing the buildings behind them, and then developing a multi-story tower behind them. We may expect this to happen in the next year or two, but there's other drama that may continue to delay this. Who knows?